About Money

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I’m ruminating about the money supply-system since my father told me (when I was about 8 years old) “Money is being created if someone is raising a bankloan – all money is debt ” (He told me in German, when I was 8 years old I couldn’t speak English)… This time I was only wondering about how money was created – but I never forgot my fathers hint. What I was also wondering about was the exponential function which my father also had explained to me… Knowing that I was eager to put parts of my pocket money in the bank account conceiving the increase of my money. 10 DM would increase to approximatly 100 DM in 50 years at an interest rate of 5% – wow!

Later in school, when I had really understood the exponential function I found the whole money system being a fraud. The reason was clear… because money was created once a borrower signed for a loan but only the money that equals the amount of the principal was created… where should the amount for the interest and compounded interest come from…? Yes: from the loans of other lenders… but, pity, they also had to pay interest… ad in finitum. This system could not work: either the economy was growing infinite (which is impossible) or many of the lenders must go bankrupt – by design of that system and the money lenders would became richer and richer; not only because of the interest and compounded interest – they also would profit from the bankruptcy of borrowers. In this system money can never be plentyfull but always scarcity. Theoretically in the end a single one would have all and all the others would have nothing – clear-cut – that won’t happen. The whole system is exactly the same as a fraudulent chain-letter. One who starts such thing will be accused and sentenced. But the fractional banking system, however, is legal and worshiped by many of the politicians… – why aren’t pupils not teached where money comes from and how the system works? I’ve got no answer. Notwithstandig it’s easy to understand – but on the other hand, it’s so easy, that, as J.K. Galbraith (another Canadian hero) told: (Quote) “The process by which banks create money is so simple that the mind is repelled”.

What’s wrong with our money system?

Interest and compounded interest is the only reason why our economy “must” grow and grow and grow and grow… – no… that is impossible! Only a 2% growth causes a doubling in about 35 years and a quadrupling in a 70 year – and 35 years later there would be 8 times more consuming of resources than it was in the beginning. This is not a question of ideology – it is a matter of fact – pure arithmetic (72 rule formula, see also http://www.albartlett.org/presentations/arithmetic_population_energy_video1.html). I say: It’s lunatic to demand for a constantly ongoing economic growth no matter what percentage it would be. Noone who has his has his head on straight will ask for such thing. You may probably be interested in more information – this could help: Money as Debt (consider to make a donation)- a movie from Paul Grignon who had come up with an incredible idea explained in his short movie “The Essence of Money“.

So, what is the conclusion? The conclusion is easy – get rid of that usury money system and install a government debt free system, where the government only, has the right to spend money into existence and it should no more be created from loans out of thin air by private bankers for interest. But that, to establish such a sustainable system is, pityfull not easy. I think I know what should be done – but without the political will – no change will be made. The only consequence I see is, that we, all the people, must force the politics… that might be a long way. On the other hand… as we could see in Germany 1989, history sometimes changes very quickly and all that change came up because all the people forced the politicians in peacefull and powerfull manner.

Well, life is continuing to be – thrilling.

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